HOUSTON, July 3 /PRNewswire-FirstCall/ -- Spectra Energy Corp today declared an 8.7 percent increase in its quarterly cash dividend on its common stock, from $0.23 to $0.25 per share. The dividend is payable September 15, 2008, to shareholders of record at the close of business August 15, 2008.
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Spectra Energy Canada Exchangeco Inc. ("Exchangeco"), a subsidiary of Spectra Energy, also announced today a quarterly cash dividend of CDN $0.26 per share on its Spectra Energy exchangeable shares (TSX: SPT.B), payable September 15, 2008, to shareholders of record at the close of business August 15, 2008.
All dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes including the dividend above are designated eligible dividends pursuant to Subsection 89(14) of the Income Tax Act (Canada) or similar provincial or territorial legislation. This designation will apply to all such dividends paid or deemed paid in the future unless otherwise notified by Exchangeco. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.
A FORTUNE 500 company, Spectra Energy Corp is one of North America's premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 18,000 miles of transmission pipeline, 265 billion cubic feet of storage, natural gas gathering and processing, natural gas liquids operations and local distribution assets. Spectra Energy Corp also has a 50 percent ownership in DCP Midstream, the largest natural gas gatherer and processor in the United States. For more information, visit http://www.spectraenergy.com/ .
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